Member Info for Risendshine

Yeah Sam, isn't it interesting how the rise and fall of the SP seems to determine the quality of the dynamics in a chat, some more than others. I do think this chat has been predominantly helpful and reasoned though, with very few exceptions I think. Perhaps it helps to know that it's just a waiting game with some ups and downs along the way :)

Excellent points both. I particularly like Tiburns suggestion about the delayed "high level talks", which were also alluded to by Clon in the last RNS (I think?), starting up again after the passing of the insolvency bill perhaps helping progress such talks more rapidly going forward. :)

If anyone is interested in reading a wee bit of the history of the Jubilee field (big oil discovery in June 2007) which was discovered by Kosmos enrgy, founded in 2003, and developed by Tollow oil, then this link is interesting, particularly page 9. Our own Tano 2 block is of course adjacent the jubilee field and has proven signs of similar potential. Notice that Kosmos SP went well into the £'s and even now in these difficult times is about £1.20+..... If Clon are awarded the block and indeed go on to make a discovery then a similar potential exists fr Clon. Much earlier than that though I would expect a developer (e.g. Tollow) to get involved. Either way, if and when ratification comes, we are looking at a very substantial rise in the SP.....there is always a risk of course, but the upside here is simply overwhelmingly worth a punt at least DYOR GLA :)
http://library.fes.de/pdf-files//bueros/ghana/10490.pdf

Excellent average Sam! I have only managed 0.6 this time around but that is only because I top sliced when it was way up at 1.5 and been getting back in gradually on the way down. If I hold some of the profit and buy more in batches each time it drops then everything seems like an opportunity; if it goes up, then good I make some money, if it goes down, then good I lower my average...its far better on the nerves lol :) If you have been here a while you will be aware how this share can go up 30 or even 40% on a sneeze! If and when news drops then I guess we will both have something to smile about, from a tidy profit to a life changing rise! GL :)

Good question as it is a kind of "how longs a piece of string" kind of thing I guess. For me though I use it to define a share that is at its lowest but which I think will come good eventually, maybe a year or two. I then look at shares that rise and fall frequently, buy when down and sell when up (20 or 30% either way). The secret for me in that is not looking for more, even if I think it will rise more. I find using this principle I can loss out in some and gain in others but over the long term it always gives a gain; unless I got greedy lol.... To me its a bit like playing golf lol...if the ball goes in the rough its better to drop a shot than try to get out with a big hit. Sometimes it pays off and sometimes not but over a season, in sticking with that principle, it will improve your overall score. But with anything gained in the short term goes into the "long play" till its day comes.... that's my heart on my sleeve account :)

Ooch Pauly, I think we have all did that at some point. I make a point now of never being tempted to buy into a rise but to wait and to watch till I have an idea where the bottom is then get in. I then make another point of never selling till it rises, even if it takes years lol. It means if I make a big investment I need to find or release some other money to play with elsewhere but over the long term this stratagy works for me....GL :)

I'll be honest, if the SP rises without news I tend to top slice, wait till it falls and then put it back in. I have been doing this all along but now my average is so low that I risk never regaining it so I am ever increasingly more reluctant to top slice. I could be tempted though depending on what my instinct is at the time....hope that helps answer your question Sam 1-5 :)

Thank you for sourcing this Tiburn, this is great news! I have always kept quiet during the hype over this bill being passed because I know it isn't the obvious part of our progress towards ratification and therefore was never going to have the impact people were perhaps hyping on. The wheels will be in motion now and my feeling is that this will come right out of the blue, no pun intended of course, and now I guess it is a case of timing it right. I'm afraid I cannot offer any idea of how long this will take to resolve but if and when it gets ratified and, then news hits the headlines, this baby will fly! :)

The statement from September (part of which is pasted in below) shows what benefit the signing of the insolvency bill will bring us, i.e. it allows the Ghana administration to abrogate the Erin contract legally allowing threm to give it back to Clontarf. This, I believe, and I am speculating, was the reassurance Clon were given which led them to drop all legal challenges so that the claim could then be sent for ratification. If this is the case then ratification can happen at any time after the signing of the insolvency bill. I think this is going to be a "Peter and the wolf" story and that when ratification finally does come, most will have given up....stay alert! with no pun intended :) ""Clontarf, and its partners have also held talks with the authorities on working with GNPC regarding the current ‘Block 1’ (subject to parliamentary ratification).US company Erin Energy, currently in Chapter 11, may soon relinquish or have abrogated part of the original Tano 2A acreage that the company was awarded in 2014, when it was known as Camac Energy.That award led Clontarf to pursue legal action, but the relinquishment could clear the way for Clontarf to recover all the original 1,532 sq km (591 sq mi) acreage, the company said.The directors believe all outstanding issues have now been resolved with GNPC on Tano 2A and that the signed petroleum agreement is being sent to the cabinet. Therefore, all legal proceedings have been dropped.""09/20/2019

Yeah, I agree Bridges, great for us! If I was wavering on whether to invest in Ghana that would have swung it for me, big time! This guy is going to blaze a trail for the African continent and put Ghana the MAP! Onward and upward :)

I've been here a while too as the potential was very high from the moment the new Ghana administration took over. In the past it was a matter of "if" and "when" but I am now happy to know that ALL the indications are it is a matter of "when" and no longer "if". The BOD are also using the word "when" now too. It's been so long that this share has fallen below mainstream radar but (to use the analogy) once the submarine starts to emerge again it will be "all hands on deck".... so, lock and load folks! Gla & dyor :)

What is it with the 33% spread here! :)

What sticks in my mind is how easily and fast Clon SP rises on good news and even sometimes with no news! It could scarcely go much lower so the only way is up, well almost! :)

Can't believe I am still getting more shots at lowering my average :) :)

A reverse takeover (RTO) is a type of merger that private companies engage in to become publicly traded without resorting to an initial public offering (IPO). ... The private company's shareholder then exchanges its shares in the private company for shares in the public company. :)

I note that back in 2012 the SP for this share was over 6p....do peeps think that SP could return? :)

Sorry, question is for Munchlet :)

Excuse my ignorance but could you elaborate on why this would fly once the TR1 comes in; thanks, :)

I agree with Bridges. The world just needed to buy some time to think how to tackle this and the priority was to stop the spread and hold it down till they had time to think and to know what they were dealing with, to make plans and gather resources etc. etc. Anyone would do the same in such a very fast moving situation where complete ignorance reigned!

Now however, things are a bit clearer, resources are being sourced, gathered and distributed. Now we no more about what we are dealing with. You will see the political will shift over the coming weeks. We will all begin to accept that masks are a good thing and allow us to get back to work. After all, its our breath that causes the spread not the whole body!!

The recovery is on the cards and the political world simply cannot afford to prolong the world getting back to work; one way or another, the press will simply do what they are allowed to be there for and convince us its all in our best interests, so much so that we will be begging them to do it :)

IMO it's too late for that now as decisions have been made awaiting implementation. It would be too damaging for Ghana's new and hard earned reputation to get drawn back into a legal dispute with Clon. After all, they are entitled to what's coming by law and they are certainly not going to change the law over that small fish. :)